According to Keeping Current Matters, many homeowners who face challenges selling their property are also considering renting it out — a trend creating what experts call “accidental landlords.” With higher mortgage rates slowing home sales, some owners are exploring the idea of renting their homes temporarily while waiting for market conditions to improve.
Becoming a landlord can offer steady income, but it also comes with responsibilities and costs. Before turning your home into a rental, consider whether it has strong income potential, and whether you’re prepared to manage repairs, maintenance, tenant issues, and potential vacancies. It’s also important to factor in expenses like landlord insurance and property management fees.
If renting doesn’t feel like the right fit, reviewing your pricing and marketing strategy might help attract the right buyers. Adjusting your approach could make selling a more straightforward option, especially if you prefer not to manage a rental property.
Not sure whether renting or selling is right for you? Contact the Indigo Skye Group for expert guidance, local market insights, and a personalized plan to help you move forward confidently.
source: www.keepingcurrentmatters.com
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